JP Morgan to enter ETF market

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JP Morgan Chase has filed with the US Securities and Exchange Commission to release its inaugural ETF offering.

The firm seeks to launch both index-based funds and actively managed ETFs. The initial range will include an ETF tracking a total return index, comprising investment-grade, fixed-rate municipal bonds. These constituent bonds, traded in US markets, will have a minimum credit rating of triple B, with one to 12 years until maturity. The filing shows the other index-based ETF will track an index measuring floating rate investment-grade corporate bonds traded in the US. The bonds must have an initial issuance of $300m to be incorporated in the index, which is rebalanced monthly. JP Morg...

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